UGI Corporation (UGI) saw its loss widen to $43.80 million, or $0.25 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $9.20 million, or $0.05 a share. On an adjusted basis, net loss for the quarter stood at $8.60 million, or $0.05 a share compared with a net profit of $1.90 million, or $0.01 a share in the last year period.
Revenue during the quarter dropped 9.84 percent to $976.20 million from $1,082.80 million in the previous year period. Operating margin for the quarter stood at negative 9.08 percent as compared to a negative 0.61 percent for the previous year period.
Operating loss for the quarter was $88.60 million, compared with an operating loss of $6.60 million in the previous year period.
John L. Walsh, president and chief executive officer of UGI, said, "This was a year of strong execution as we were able to deliver record earnings despite significantly warmer weather. This performance demonstrates the contributions of our highly accretive investments as well as our focus on unit margin management and operational efficiency.
For financial year 2017, the company forecasts diluted earnings per share to be in the range of $2.30 to $2.45 on adjusted basis.
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